Question
Which of the following is an exception to the doctrine
of privity of contract rule _______________?Solution
Doctrine of Privity to contract means only parties to contract have a right to sue in case of breach but when the third party to a contract is due to trust, family arrangement, estoppel etc. they can also exercise such right.
As per the Companies Act, 2013, the audit committee shall have powers:
(i) to investigate any activity within its terms of reference
(ii) ...
While determining the Material Cost, _______ is not deducted from the purchase price.
It is treated as interest and finance charges. It is ignored.
Project A has cash flows of ₹-10 lakh (initial), ₹3L, ₹4L, ₹5L over 3 years. Project B has the same initial investment but generates ₹6L, ₹4...
Which of the following will be the journal entry for Credit Sales under Self-Balancing Entry?
What is the amount which is allowed as standard deduction under section 16 from Gross salary while computing the Income under head salary?
Which of the following statements accurately explains the role of an audit committee in corporate governance?
A company’s book profit as per section 115JB is ₹50 crore. MAT rate is 15% plus 4% cess. Calculate MAT liability.
From the following given information, calculate inventory turnover ratio:
Revenue from operations = Rs.200,000 Average Inventory = Rs.20,000 <...
Which of the following statements about Internet Relay Chat (IRC) is correct?
According to Section 44 of the Indian Partnership Act, 1932, the court, at the suit of a partner, may dissolve a firm on which of the following grounds?...
